Enterprise Europe Network SME growth outlook
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- Nicholas Erik Ray
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1 Enterprise Europe Network SME growth outlook een.ec.europa.eu
2 2 Enterprise Europe Network SME growth outlook Foreword The European Commission wants to ensure that small and medium-sized enterprises (SMEs) have the right conditions and support to achieve their potential. The Enterprise Europe Network does a fantastic job in this respect, providing tailored advice, helping European SMEs to innovate, and helping connect them up with potential partners so that they can expand in the EU and beyond. Its clients have achieved growth of over three percentage points more than companies that do not receive assistance 1. This report provides a snapshot of the current situation for SMEs in Europe. It is based on a survey of s clients. It contains many useful insights because it captures the views of a number of small businesses with international ambitions. The key insight is a very encouraging one: that the SMEs surveyed show a high level of confidence in terms of expected growth and job creation. This fits the positive outlook of the European Commission s economic forecasts 2 that growth is set to remain strong in 2018 and This is great news and I am grateful for the role of the Enterprise Europe Network members in contributing to that. I hope to see even stronger numbers next year and more jobs and growth in Europe. Lowri Evans Director-General for Internal Market, Industry, Entrepreneurship and SMEs, European Commission 1 According to the Final evaluation of the impact of the Enterprise Europe Network , European Commission (2015). 2 According to the European Commission s Summer 2018 Interim Economic Forecast.
3 3 Enterprise Europe Network SME growth outlook Table of contents SME growth outlook Top 5 insights EU overview and country by country breakdown 21 Methodology
4 4 Enterprise Europe Network SME growth outlook SME growth outlook TOP 5 insights As economic growth forecasts across Europe continue to improve, SMEs with international ambitions remain optimistic about their future growth. The Enterprise Europe Network's 2018 survey data shows consistent levels of confidence among SMEs in Europe in terms of growth and job creation compared to This year, traditional companies showed an upswing in confidence and globally ambitious companies were the most upbeat about gaining market share. Hot-spots of positivity were spread across Denmark, Portugal, Slovakia and Sweden. Outside the EU28, SMEs in Serbia and in Bosnia & Herzegovina showed the highest levels of optimism for the future. 1. A healthy outlook for turnover 63 % of SMEs who internationalise expect to increase their turnover in the next 12 months. Around two thirds of small businesses continue to be optimistic that expanding their businesses beyond their home countries will pay off within the coming year. Of these, 65 % were traditional companies showed a resurgence in confidence among this group. Danish and Slovakian SMEs (85 %) were most confident about increasing their turnover while small businesses in Belgium (46 %) had the lowest expectations. 2. A steadily growing workforce 33 % of SMEs expect to create jobs in the next year. The positive trend in Europe's employment levels is reflected among Europe's internationally ambitious SMEs. Around a third of them expect to create jobs in the coming year. Around 40 % of these are innovative companies, suggesting a wide variety of employment opportunities. Swedish SMEs (46 %) had the highest expectations for job creation while SMEs in the Netherlands (20 %) were the least optimistic. 3. Optimism for future growth 54 % of SMEs expect to increase their market share in the next 12 months. Small businesses remain bullish about their growth prospects with more than half expecting to increase their market share. Of these, more than a third also expect to improve their products or services through innovation. While this represents a slightly lower proportion compared to 2017, innovation nevertheless remains a driver for growth. We found the most optimistic SMEs in Portugal (70 %). SMEs in Lithuania (37 %) were the most cautious about their near-term growth prospects. 4. Positive prospects for globally ambitious SMEs Companies with global growth ambitions are the most confident: 67 % of companies targeting their international expansion beyond the EU were confident of increasing their market share (compared to 54 % whose focus was primarily within the EU). This globally ambitious breed of company is growing. Whereas in 2009 they represented just 3 % of business partnerships supported by the Enterprise Europe Network, by 2017 this figure was close to 9 % of the total volume. 5. An innovation growth hub in the Balkans Outside the EU, small businesses in Serbia and Bosnia & Herzegovina show the highest degree of optimism in terms of creating jobs and growing their businesses. In Serbia, 80 % of SMEs seeking to internationalise were confident that they would increase their turnover and 87 % expected to increase their market share in the next 12 months. Of these, over 50 % were innovative companies. In Bosnia & Herzegovina, 45 % expected to create jobs in the coming year, of which 62 % were innovative companies.
5 5 Enterprise Europe Network SME growth outlook EU overview and country by country breakdown
6 6 Enterprise Europe Network SME growth outlook SME growth outlook EU overview Jobs and growth projections % of SMEs who internationalise expect to increase their turnover in the next 12 months (2017 = 65 %) 33 % of SMEs expect to create jobs in the next year (2017 = 32 %) 54 % of SMEs expect to increase their market share in the next ( same as 2017) SME support in ,788 SMEs benefitted from our information services and training sessions 37,060 SMEs got advice from our experts to help them innovate and grow internationally 192,060 SMEs benefitted from key Enterprise Europe Network services 17,166 SMEs participated in our brokerage events 3,046 SMEs benefitted from our tailored innovation support packages
7 7 Enterprise Europe Network SME growth outlook Austria 2.2 % Projected GDP growth % for % 26 % 56 % SME SUPPORT IN AUSTRIA , , Belgium 1.7 % Projected GDP growth % for % 18 % 39 % SME SUPPORT IN BELGIUM ,141 66
8 8 Enterprise Europe Network SME growth outlook Bulgaria 3.7 % Projected GDP growth % for % 24 % 60 % SME SUPPORT IN BULGARIA , Croatia 2.7 % Projected GDP growth % for % 20 % 45 % SME SUPPORT IN CROATIA ,905 13
9 9 Enterprise Europe Network SME growth outlook Cyprus 3.3 % Projected GDP growth % for % 69 % 77 % SME SUPPORT IN CYPRUS Czech Republic 3.1 % Projected GDP growth % for % 33 % 48 % SME SUPPORT IN CZECH REPUBLIC ,525 63
10 10 Enterprise Europe Network SME growth outlook Denmark 1.9 % Projected GDP growth % for % 27 % 53 % SME SUPPORT IN DENMARK Estonia 2.8 % Projected GDP growth % for % 56 % 78 % SME SUPPORT IN ESTONIA ,677 19
11 11 Enterprise Europe Network SME growth outlook Finland 2.3 % Projected GDP growth % for % 42 % 68 % SME SUPPORT IN FINLAND , France 1.8 % Projected GDP growth % for % 34 % 48 % SME SUPPORT IN FRANCE ,045 1,702 13,
12 12 Enterprise Europe Network SME growth outlook Germany 2.1 % Projected GDP growth % for % 30 % 46 % SME SUPPORT IN GERMANY ,640 1,729 16, Greece 2.3 % Projected GDP growth % for % 37 % 67 % SME SUPPORT IN GREECE , ,028 39
13 13 Enterprise Europe Network SME growth outlook Hungary 3.2 % Projected GDP growth % for % 32 % 42 % SME SUPPORT IN HUNGARY , Ireland 4.1 % Projected GDP growth % for % 50 % 50 % SME SUPPORT IN IRELAND ,671 22
14 14 Enterprise Europe Network SME growth outlook Italy 1.2 % Projected GDP growth % for % 29 % 46 % SME SUPPORT IN ITALY ,177 1,420 13, Latvia 3.3 % Projected GDP growth % for % 15 % 60 % SME SUPPORT IN LATVIA
15 15 Enterprise Europe Network SME growth outlook Lithuania 2.7 % Projected GDP growth % for % 7 % 37 % SME SUPPORT IN LITHUANIA , Luxembourg 3.5 % Projected GDP growth % for % 7 % 7 % SME SUPPORT IN LUXEMBOURG ,497 4
16 16 Enterprise Europe Network SME growth outlook Malta 5.1 % Projected GDP growth % for % 9 % 45 % SME SUPPORT IN MALTA Netherlands 2.6 % Projected GDP growth % for % 20 % 53 % SME SUPPORT IN NETHERLANDS , ,
17 17 Enterprise Europe Network SME growth outlook Poland 3.7 % Projected GDP growth % for % 28 % 58 % SME SUPPORT IN POLAND , , Portugal 2.0 % Projected GDP growth % for % 31 % 70 % SME SUPPORT IN PORTUGAL ,548 65
18 18 Enterprise Europe Network SME growth outlook Romania 3.9 % Projected GDP growth % for % 41 % 55 % SME SUPPORT IN ROMANIA , Slovakia 4.2 % Projected GDP growth % for % 41 % 68 % SME SUPPORT IN SLOVAKIA
19 19 Enterprise Europe Network SME growth outlook Slovenia 3.6 % Projected GDP growth % for % 15 % 44 % SME SUPPORT IN SLOVENIA , Spain 2.4 % Projected GDP growth % for % 36 % 54 % SME SUPPORT IN SPAIN ,912 2,034 16,
20 20 Enterprise Europe Network SME growth outlook Sweden 2.0 % Projected GDP growth % for % 46 % 57 % SME SUPPORT IN SWEDEN , United Kingdom 1.2 % Projected GDP growth % for % 44 % 63 % SME SUPPORT IN UNITED KINGDOM , ,
21 21 Enterprise Europe Network SME growth outlook Methodology General Survey data was collected between April 2017 and April Company projections relate to the coming 12 months. Data was submitted electronically to the Executive Agency for Small and Medium-sized Enterprises (EASME) which is responsible for coordinating the COSME programme that co-funds the Enterprise Europe Network. Data on SMEs' projections for market share, turnover and job creation Survey data for EU28 countries is based on 3169 responses from SMEs who had received advisory, innovation or partnership services from the Enterprise Europe Network. Country data which represents less than 1 % of the client base and fewer than 15 responses per country (Cyprus, Luxembourg, Malta, Ireland) is not sufficiently representative to provide accurate country insights. Equally, where fewer than 15 responses were received for a given question, the data was also considered insufficient to provide an accurate estimate. For the purpose of the report, client base is defined as the number of clients participating in information and training events organised by. Data on European SMEs expanding internationally Survey data is based on 3419 responses from SMEs in countries participating in the COSME programme 1 6 % of which had received specific advisory, innovation or partnership services from the Enterprise Europe Network to enter markets outside the COSME countries. Global data on highest levels of optimism among SMEs Analysis incorporated survey data from EU28 (as above) as well as 471 responses from SMEs who had received advisory, innovation or partnership services from s Business Cooperation Centres 2 and non-eu countries participating in the COSME programme 3. Country data which represents fewer than 15 responses per country (Argentina, Egypt, Israel, Moldova, Norway, Singapore, Tunisia, Ukraine, USA) is not sufficiently representative to provide accurate country insights. Volume of from Network services Data covers the EU's 28 Member States. Data was submitted by Enterprise Europe Network partners and covers a one-year period (2017). 1 EU 28, Montenegro, Turkey, Former Yugoslav Republic of Macedonia, Albania, Serbia, Bosnia & Herzegovina, Moldova, Armenia, Ukraine, Iceland. 2 Russia, New Zealand, Japan, China, Brazil, Norway, Egypt, Israel, Argentina, South Korea, United States of America, Peru, India, Taiwan, Jordan, Switzerland, Belarus, Chile, Singapore, Georgia, Mexico, Tunisia, Indonesia, Vietnam, Cameroon, Nigeria, Qatar. 3 Montenegro, Turkey, Former Yugoslav Republic of Macedonia, Albania, Serbia, Bosnia & Herzegovina, Moldova, Armenia, Ukraine, Iceland.
22 2018 European Union. All rights reserved. This report is published by the Executive Agency for Small and Medium-sized Enterprises (EASME) as part of the EU Programme for the competitiveness of small and medium-sized enterprises (COSME) een.ec.europa.eu
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